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... been been been been been been been ... welcome back to MoneyBeat U S stock markets slow start this morning conceded that the Jones industrial average ... of just about not pledge was down around forty when it started out so that kind of turn that around the or the NASDAQ pub standpoint ... not big moves he conceded the Essen P up a little less than three points ... however in view of the start of the six month charts ... those are six-month highs is the last trading day of the year the first half of the year ... spend a little better than anyone expected especially after what happen in January ... was because surge in corporate profits was in interest rates was that the Fed ... or was that in fact an inside job in terms of overtime up buybacks Jim Browning joins us from Florida to talk about the book Wall Street Journal reporter Jim Browning hell are you ... great ... Wall I'm pretty good so I'm ... excited ... buybacks Budweiser buybacks to big deal right now ... well there's a ... strategist the stock market strategist at a firm called LPL Financial Boston to study learn to one who invented the buyers are in the market ... and when you discover going from Treasury data that data ... data from other identifiers ... is that ... of six major categories of buyers only two of them are actually ... net buyers of stocks are as net sellers ... and the main advisers the companies themselves spending ... hundreds of billions of dollars by ... the roadside ... now that the stock market would have been ... a driver at all ... though ... you only get into this yet they essentially have a specific copyright and is an issue of ... the issuing shares will find them at the can change the so the new ... math on that but but overall units ... why ... he's measuring in at the matter and that ... overall you look these numbers is a very big numbers in front of hundreds of billions with the with one key in the first quarter but that they put into buybacks ... and it was the biggest ... orders in two thousand and seven right ... in twenty thirteen was the biggest gainer was a huge industry says that in making this up ... and biggest since two thousand and seven so ... it's not just the appetizer pullback is also that the company's release pending a box ... and a time when the stock market has appreciated all ALM so they're paying big bucks and ... then try it prices but it's not right ... um and that's one of the issues and is the controversy all ... saying that they're spending so much money on stock instead ... said that if any ... also ... the will of the stock market to stock market looks great ... but that the economy has the look so good ... that does that ... explain some of that ... yes ... I mean one thing is that companies are finding that there's a lot more to be made by buying your own stock ... an improving your contents of ... that by reducing your share ... compared to actually making difficult investments in an uncertain world which are risky ... might not pan out ... the problem is that why your stock is not nearly as good for the economy is actually ... the goal in investing in your business ... um ... so that could be one reason that the stock market looks better than him ... I can ... leave it there ... on the MoneyBeat blogged innovation to look for that one thing to ... do that